Guy Clemente: $750K Complaint Against Ex-Andrew Garrett Advisor

New York City financial advisor Guy Clemente (CRD# 1222597) recently received an investor complaint alleging that his conduct resulted in damages exceeding $700,000. Financial Industry Regulatory Authority records show that he is registered with Aegis Capital, having previously been registered with Andrew Garrett.

Mr. Clemente’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in January 2024, alleges that as a representative of Andrew Garrett, he breached his fiduciary duty, recommended unsuitable investments, executed excessive trades, and breached contract. The pending complaint alleges damages of $750,000.

A second disclosure on his BrokerCheck report concerns his resignation from Andrew Garrett. Filed in December 2023, it states that he voluntarily resigned from the firm after “an investment-related, consumer-initiated complaint” prompted an internal review that concluded he “violated firm policies.”

According to the Financial Industry Regulatory Authority, Guy Clemente holds 40 years of securities industry experience. Based in New York City, he has been registered as a broker and an investment advisor with Aegis Capital since 2023. His past registrations include Andrew Garrett (New York, New York; 2007-2024), SW Bach & Company (New York, New York; 2003-2007), the Thornwater Company (New York, New York; 1999-2003), MS Farrell & Company (Syosset, New York; 1997-1999), Sands Brothers (New York, New York; 1996-1997), the JB Sutton Group (Melville, New York; 1996-1997), Commonwealth Associates (New York, New York; 1995-1996), Smith Barney (New York, New York; 1993-1995), Lehman Brothers (New York, New York; 1984-1993), and Rauscher Pierce Refsnes (1984). His credentials include the passage of eight securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; the Investment Banking Registered Representative Examination, or Series 79TO; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Combined State Law Examination, or Series 66. He holds 20 state licenses. (Information current as of June 20, 2024.)

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